Bearish momentum can affect all major cryptocurrencies when people least expect it. As far as the current trend is concerned, it was a mere matter of time until the momentum soured. All markets are getting battered right now, with the Litecoin price losing nearly 12% in very quick succession. Turning this ship around will prove rather difficult.
Litecoin Price Heads Below $85 Again
A lot of cryptocurrency traders keep a small amount of Litecoin as part of their portfolio. In this volatile industry, diversification is key at all times. Although the Litecoin value surpassed $90 earlier in the week, it has now dropped down to $83 again. This sharp correction was somewhat to be expected, albeit it may not necessarily remain in place for very long.
The Litecoin price is currently subjected to a near 12% decline in USD value and a 6.8% loss in BTC value. As such, one LTC is priced at $83, or 0017 Bitcoin. Both of these levels are still more than significant, primarily because one LTC was valued a lot lower when the year 2019 came…